Sell Sun Pharmaceutical Industries, target price Rs 770: Religare Broking

Religare Broking has sell call on Sun Pharmaceutical Industries with a target price of Rs 770. The current market price of Sun Pharmaceutical Industries is Rs 829.5. Time period given by analyst is Intra Day when Sun Pharmaceutical Industries Ltd. price can reach defined target.

Sun Pharmaceutical Industries Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 199000.84 Crore) operating in Pharmaceuticals sector.

Sun Pharmaceutical Industries Ltd. key Products/Revenue Segments include Pharmaceuticals and Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 9560.35 Crore, down -7.14 % from last quarter Total Income of Rs 10295.57 Crore and up 10.73 % from last year same quarter Total Income of Rs 8633.98 Crore. Company reported net profit after tax of Rs -2222.36 Crore in latest quarter.

Investment Rationale
Trading on the verge of a breakdown from a distribution pattern on the daily chart.

Promoter/FII Holdings
Promoters held 54.48 per cent stake in the company as of 31-Mar-2022, while FIIs owned 14.44 per cent, DIIs 20.02 per cent.